Startups have seen huge success stories since the past few years, with a few new companies not just hitting it big, but changing the face of business.
But for every successful startup, countless others fail to make it big.
A startup failure can be attributed to various factors. We have tried to analyse the possible tipping point when startups in certain technologies will be able to build big businesses.
Everybody, even the greatest doubters of Bitcoin and different cryptographic forms of money have had good things to say in of support the Blockchain innovation, that has the potential to cause the biggest disruption for any form of transaction. However, it has been a long time since Blockchain technology was built and we are yet to see any major application of it.
It can be argued that as Blockchain is the technology on which Bitcoin is built upon, its major use is as a payment system or, as it has evolved, a store of value. The other use cases for Blockchain like an authenticity verification, a distributed storage, a decentralized trading platform, smart contracts, and as an immutable ledger have all been tried, but not succeeded.
The banking revolution
When cryptocurrencies like Bitcoin emerged as a costless and an instant way to exchange value without the need for a middleman, everybody thought that this will revolutionise banking. However, much to our chagrin, things have not panned out as expected as speculation and greed took over.